COPENHAGEN, Aug 13 \u2014 Shipping giant Maersk raised its full-year earnings guidance Thursday as it reported a doubling of profits in the second quarter, driven by strong demand in Asia in particular.<\/p>\n
From April to June, net profit was US$1.3 billion (RM5.3 billion), up from US$614 million a year earlier, the company said.<\/p>\n
Maersk said its profits rose even as the ongoing Mideast war throttled tanker and cargo traffic through the Strait of Hormuz, a key transit route for oil, gas and other crucial industrial products.<\/p>\n
\u201cOur global team\u2019s ability to capture opportunities in these difficult markets has enabled us to deliver significant volume and earnings growth across our businesses,\u201d chief executive Vincent Clerc said in a statement.<\/p>\n
The company warned that \u201cthe situation in the Middle East remains volatile, continuing to impact logistics networks and customer supply chains\u201d, pushing up operating costs.<\/p>\n
But \u201chigher freight rates, combined with lower depreciation due to the change in the useful lives of vessels\u201d, helped boost profits.<\/p>\n
For the full year, Maersk now expects Ebitda operating profit, which excludes exceptional items, of US$10.5 billion to US$12.5 billion, up from the US$8-10 billion dollars previously forecast.<\/p>\n
Shares in Maersk were up around 4.3 per cent in early trading on the Copenhagen stock exchange. \u2014 AFP\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"COPENHAGEN, Aug 13 \u2014 Shipping giant Maersk raised its full-year earnings guidance Thursday as it reported a doubling…\n","protected":false},"author":2,"featured_media":145332,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[224],"tags":[108,586,245,69314,17961,6161],"class_list":["post-145331","post","type-post","status-publish","format-standard","has-post-thumbnail","category-maersk","tag-copenhagen","tag-freight-rates","tag-maersk","tag-middle-east-volatile","tag-strait-of-hormuz","tag-vincent-clerc"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/117089733578407635","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/145331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=145331"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/145331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/145332"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=145331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=145331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=145331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}